Assenagon Asset Management S.A. boosted its stake in CalAmp Corp. (NASDAQ:CAMP – Get Rating) by 75.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,702 shares of the Wireless communications provider's stock after acquiring an additional 26,456 shares during the period. Assenagon Asset Management S.A. owned 0.17% of CalAmp worth $257,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Connors Investor Services Inc. boosted its holdings in CalAmp by 47.0% in the first quarter. Connors Investor Services Inc. now owns 485,660 shares of the Wireless communications provider's stock valued at $3,550,000 after acquiring an additional 155,304 shares during the last quarter. Worth Venture Partners LLC acquired a new position in CalAmp in the first quarter valued at approximately $3,221,000. Penn Capital Management Company LLC acquired a new position in CalAmp in the first quarter valued at approximately $1,736,000. Goldman Sachs Group Inc. lifted its stake in CalAmp by 262.9% in the first quarter. Goldman Sachs Group Inc. now owns 572,287 shares of the Wireless communications provider's stock valued at $4,184,000 after buying an additional 414,589 shares during the period. Finally, B. Riley Asset Management LLC lifted its stake in CalAmp by 14.9% in the first quarter. B. Riley Asset Management LLC now owns 87,500 shares of the Wireless communications provider's stock valued at $640,000 after buying an additional 11,326 shares during the period. 88.58% of the stock is currently owned by institutional investors.
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NASDAQ CAMP opened at $3.38 on Monday. The firm has a market capitalization of $125.27 million, a P/E ratio of -2.96 and a beta of 2.31. The business has a fifty day simple moving average of $4.79 and a 200 day simple moving average of $5.27. CalAmp Corp. has a 12 month low of $3.07 and a 12 month high of $10.68. The company has a current ratio of 1.86, a quick ratio of 1.62 and a debt-to-equity ratio of 10.40.
CalAmp (NASDAQ:CAMP – Get Rating) last released its quarterly earnings results on Thursday, September 22nd. The Wireless communications provider reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.03. The business had revenue of $72.80 million during the quarter, compared to analyst estimates of $69.27 million. CalAmp had a negative return on equity of 34.70% and a negative net margin of 14.66%. CalAmp's quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. On average, analysts predict that CalAmp Corp. will post -0.43 EPS for the current fiscal year.Analyst Upgrades and Downgrades
Several equities analysts have issued reports on CAMP shares. Craig Hallum raised CalAmp from a "hold" rating to a "buy" rating and boosted their price target for the company from $8.00 to $10.00 in a research note on Tuesday, August 16th. The Goldman Sachs Group lowered their target price on CalAmp from $4.30 to $3.70 and set a "sell" rating on the stock in a research report on Friday, October 14th. Finally, StockNews.com started coverage on CalAmp in a research report on Wednesday, October 12th. They set a "sell" rating on the stock. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $10.18.
Insider Activity at CalAmp
In related news, Director Wes Cummins purchased 194,600 shares of the stock in a transaction that occurred on Tuesday, September 27th. The stock was acquired at an average cost of $4.16 per share, with a total value of $809,536.00. Following the transaction, the director now owns 2,423,759 shares of the company's stock, valued at approximately $10,082,837.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CalAmp news, CEO Jeffery R. Gardner acquired 20,000 shares of CalAmp stock in a transaction on Tuesday, September 27th. The stock was purchased at an average price of $4.17 per share, for a total transaction of $83,400.00. Following the purchase, the chief executive officer now directly owns 483,971 shares of the company's stock, valued at $2,018,159.07. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Wes Cummins acquired 194,600 shares of CalAmp stock in a transaction on Tuesday, September 27th. The stock was acquired at an average price of $4.16 per share, with a total value of $809,536.00. Following the purchase, the director now directly owns 2,423,759 shares in the company, valued at $10,082,837.44. The disclosure for this purchase can be found here. In the last three months, insiders purchased 610,000 shares of company stock valued at $2,390,782. 6.60% of the stock is owned by insiders.
CalAmp Company Profile
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CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products.
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